Japaul Oil & Maritime Services Plc said it signed an agreement with private equity firm, Milost Global Inc. for $350million in shares and loans for business expansion.

Milost will invest $250 million in equity and add another $100 million in convertible loans, Japaul Chairman Jegede Paul told Bloomberg.The fresh injection of capital will enable the company to fix grounded vessels, finance new contracts and expand into mining, he said.

Two calls to numbers listed by New York-based Milost Global on its website for comment went unanswered on Tuesday. Japaul’s oil and gas operations suffered a setback with the 2014 plunge in crude prices, which forced exploration and production companies to scale back their activities. As prices are recovering, the company wants to take advantage of new business opportunities in the industry. The company plans to be able to absorb future oil and gas price shocks by diversifying into mining, Paul said.

http://www.akelicious.com/2018/02/japaul-to-receive-350m-funding-from.html

Japaul again,the same company that wrecked me with their useless IPO that lost value like bubu chai money wey I hustle during school election back in the days.milost una money don go

great

Is good. Hope it reflects on the economy

this company na real player. one of the shinning light of Nigeria

The company is a scam, they believe too much in bribery and they don't pay workers at all yet all the senior management staff are pastors in different churches.

Please run from them because this money will disappear through one of these popular animals, I am suspecting elephant

They hav a branch next to my house......in ph here. Common water or road dem no fit tidy for the neighbouring host communities. Rather na so so noise from late night work and sandblasting on our roofs. Until them shut down operations run go lag. Hope choppings go reach us or work opportunity. Nice one

Nice one... but make sha elephant nor swallow this one o...

my2kobo

Chivasex:
The company is a scam, they believe too much in bribery and they don't pay workers at all yet all the senior management staff are pastors in different churches.

Please run from them because this money will disappear through one of these popular animals, I am suspecting elephant

They said it would be invested in"grounded assets".

E be like say them wan use the money feed different reptiles like snake,zero crocodile, iguanas and co. Monitor lizard go supervise the sharing.

WTF has this got to do with us?

This fraudulent company again? Billions were collected on IPO from unsuspecting subscribers, no dividend paid up till today. Jegede should be shot/live jail. This is annoying...

Marine Base pikin? Abi you be Kokoama or Loloama pikin lol!

Back to business, I expect this Japaul Oil to trade high on NSE in the next few weeks. I need to make money on my little share there.

Jackyboy:
They hav a branch next to my house......in ph here. Common water or road dem no fit tidy for the neighbouring host communities. Rather na so so noise from late night work and sandblasting on our roofs. Until them shut down operations run go lag. Hope choppings go reach us or work opportunity. Nice one

Good job Milost!!

remembered their IPO back then

Milost mumu o. Ur money don go be dat o

https://www.thisdaylive.com/index.php/2018/02/23/japaul-to-receive-350m-funding-from-milost/ stop plagarism

We only hear these big money it does not change hand!

lastempero:
Japaul again,the same company that wrecked me with their useless IPO that lost value like bubu chai money wey I hustle during school election back in the days.milost una money don go

Corporate governance is nonexistent in most Nigerian companies, including JaPaul. It's crazy how someone would float his company on the stock exchange and still run it as it it's a privately held sole proprietorship. While shareholders are lamenting, Jegede Paul is living like a king, with his multi-billion lifestyle. Greedy man.

[quote author=hedonistic post=65300033]

Corporate governance is nonexistent in most Nigerian companies, including JaPaul. It's crazy how someone would float his company in the stock exchange and still run it as it it's a privately held sole proprietorship. While shareholders are lamenting, Jegede Paul is living like a king, with his multi-billion lifestyle. Greedy man. [/quote


That guy is likely to be a con man going by the way he runs the company.

My dad invested heavily in these guys IPO then like ten or eleven years ago then selling for I think 3 naira with an optimism for further growth

It has been a mirage since then....

Una never learn una lesson.
Anytime I hear someone claimimg to be a pastor outside the church, probably in a business environment, omo, I dey run.....

lastempero:
Japaul again,the same company that wrecked me with their useless IPO that lost value like bubu chai money wey I hustle during school election back in the days.milost una money don go

This may be an opportunity for you to recoup your investment back if you have not sold.

congrats to the receiver...kudos to the giver. Next case pls

Let's see how this affects the market and their shares in the long run.

Japaul, the first company i invested on their shares, as iam talking to you now nothing received even the certificate. Please do not try to invest any thing on that bad company.

This company gave us redundancy last year december without paying our 7 months salary and allowances, I pray they pay us now ooooo!!! God abeg

Cool
Japaul should invest in new built ships.
Get some ASD tugs capable of pulling ahead and astern in various bollard pull capacity. Some OSV of above 3000 gross tonnage and huge bulk capacity. Challenge the market with your asset and not who u know. U can't know everyone all the time.

This might be a reprieve of a sort.

I only hope the new investor will insist on emplacement of proper corporate governance in the company. Because as of now, there is total absence of it in the company. Jegede runs the place like a sole proprietorship with so much fund diversion to private endeavors all the time.

I have it on good authority that the staff have not been paid salary for several months now while countless contractors / vendors are also being owed multiple millions of naira.

The company is totally in bad shape on every front. A look at the financials of the company completely shows the level of rot in the company with massive debts being owed various banks.

No doubt the company has good potentials, but strict corporate governance has to be emplaced for the potentials to be actualized.

And I will also advise the new investor to keep an eagle eye on Jegede because he is a "Sharp Man".

kolaish:
This may be an opportunity for you to recoup your investment back if you have not sold.

Iam watching them with my 4D but that guy really discourage me in terms of stock.

lastempero:


Iam watching them with my 4D but that guy really discourage me in terms of stock.

Yes I agree. But you cannot say you won't buy a car again because a dealer sold a faulty car to you. Even Warren Buffet lost fortunes in the stock market before discovering the truth about the market, the rest are stories.

Japaul is a Scam

Just look at their Administrative expenses and see how they fool the market to declare loss every year

But in Zoo Nigeria anything goes, no regulators

I just pity whoever is giving 350 million dollars to this scam Jegede

You might as well flush the money down the toilet as its a better use

I dont even want to go into how they depreciate their PPE or give contracts to Jegede controlled companies

A joke